Comparing auto insurance quotes online is the best way to find a competitive rate from a reliable company. Even most states' department of insurance suggest comparing quotes from multiple companies. OnlineAutoInsurance.com helps you easily obtain rates from various reputable insurers by completing one simple form.
Ohio car insurance laws require that consumers follow a financial responsibility law obligating each driver to obtain an automobile policy providing coverage for bodily injuries and/or property damage to other persons in case of an accident where the policyholder is found liable.
Ohio's financial responsibility law consists of two parts:
Bodily injury coverage — Covers damages up to the policy limits for others' bodily injuries that are the result of an accident caused by the insured. Damages may also include loss of wages and pain and suffering. Policyholders' coverage would pay these costs plus the cost of defense in court. The state requires that drivers have a minimum policy limit for bodily injury of $12,500 per person and $25,000 total per accident.
Property damage coverage — Covers up to the policy limits for damage to other people's property that the policyholder is legally responsible for in an accident. OH car insurance laws require that policies have a minimum of $7,500 for property damage liability.
Other coverage can be available for purchase such as uninsured or underinsured motorist coverage, which covers the insureds (the policyholder and any passengers) in the event that they are injured by a driver who does not have a policy or if they are victims of a hit-and-run accident. Underinsured motorist coverage also will help pay in excess of the at-fault party's policy limits if his or her limits are insufficient.
Coverage for insured vehicle is also available. It is referred to as comprehensive and collision coverage. If a vehicle is being financed, comprehensive and collision protection may be required.
Collision coverage pays for any damage to the insured vehicle that is the result of a collision with another vehicle or any object such as a light pole. Although this is not a state requirement, it should be purchased to cover the potential damage to a vehicle, if desired.
Comprehensive coverage pays for damage to the insured vehicle as a result of damages other than collision such as theft, fire, vandalism, and more. Although not required by law, this coverage is needed if protection is wanted against theft and other perils.
Be sure to obtain the right amount of coverage and compare rates to obtain the cheapest Ohio car insurance available for the desired product.
There are multiple factors that affect premiums:
- The vehicle you being insured is an important factor in determining rates. A more expensive automobile is generally more expensive to insure, with a few exceptions.
- There are a few discounts available to help lower premiums with vehicle features such as airbags, LoJack devices, alarms, and automatic seat belts, among others.
- Garaging address impacts premiums as well, with some areas or cities generating higher or lower premiums than others. Also, where a driver keeps a vehicle at night can be a determining factor in rates. Keeping cars in safe places like locked garages can reduce chances of theft, which can lower premiums.
- Having negative items on a driving record and accident history—such as speeding tickets, accidents, and even drinking and driving tickets—will directly affect your premiums.
- If a motorist has made a lot of claims in the past, companies can use that to raise rates. The state of OH suggests not claiming small fender benders to avoid an increase in rates. However, drivers must file a report with the Bureau of Motor Vehicles for any accidents causing $400 or more in property damage or bodily injury.
- The coverage amounts purchased will also impact rates. If a motorist gets lower coverage, rates generally will be lower. If a policyholder opts for high deductibles, rates will also be lower.
It is suggested that shoppers compare auto insurance in Ohio and obtain quotes for multiple types of coverage in order to make a decision on the policy they want and can afford.
For information on state laws, visit the Ohio Department of Insurance